Stuck at 680

[cascade159]

I've been following my credit scores diligently for the past six months and suddenly my Equifax FICO score seems to be stuck at 680. I had my last collection removed this month and expected a jump in my score but it stayed at the same. I paid-down two of my credit card balances from 50% to less than 9%, which typically sees a nice increase, but nothing. I had a new inquiry and it didn't drop. It seems that I've cleared all the derogs off my report and this is going to be my score for the next 12-24 months. My oldest tradeline is 19 years but I've added three new credit cards within the last 12 months - I'm wondering if the amount of new credit is holding me back.

Curious if anyone else has experienced this?

[BrandonSS]

I'm no where near as long of history as you.. but my score has been sitting still for the past 2 months.  I've since deleted my only collection account (was expecting a jump from this) and I've opened a CC.  I have 7.5 years AAoA but had no revolving accounts.   Hopefully we both get "unstuck" and let the scores rise like we expected.  good luck!

[MarineVietVet]

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@cascade159 wrote:

I've been following my credit scores diligently for the past six months and suddenly my Equifax FICO score seems to be stuck at 680. I had my last collection removed this month and expected a jump in my score but it stayed at the same. I paid-down two of my credit card balances from 50% to less than 9%, which typically sees a nice increase, but nothing. I had a new inquiry and it didn't drop. It seems that I've cleared all the derogs off my report and this is going to be my score for the next 12-24 months. My oldest tradeline is 19 years but I've added three new credit cards within the last 12 months - I'm wondering if the amount of new credit is holding me back.

Curious if anyone else has experienced this?

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I think this might be the reason. Those three new cards mean new inquiries, additional new TL's, and they likely lowered your AAoA. The passage of time will eventually reduce the damage.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[Anonymous]

They are probably using the 3 inquiries against you. 

They normally stay on for a year.  The fact that your

score did not drop is good.

It will go up--just be patient

I was at 698 for what seemed an eternity .

Then BK fell off and boom 788.  Now 802.

Don't worry be happy

[cascade159]

Thanks for all the input. My AAoA is around 6 six years... The interesting part is I only have ONE new inquiry on Equifax as none of the credit cards pulled EQ. I only have 5 total inquiries and 1 within the last year so I don't think it's the inquiries. I am still guessing it's the new tradelines / accounts that are holding me in place.

I just leased a new car so I am certain that will shake things up on my report.

[RobertEG]

I am just guessing here, but this is what I suspect.

Being stalled below 700 with a good AAoA and an old date of oldest account is probalby not an AAoA issue,.

That is not a major FICO scoring issue.

New inquries are short lived, and not of major scoring impact.

Addition of the new accounts will reducce your AAoA, but also  no major.

I suspect that there are still major derogs in your CR.

You say that you had a collection "removed," but was that based on your assumption that it would be removed based on your payment to the CA, or did you actually see a later CR that included its deletion?  Did that CA deletion also include deletion of the prior reporting by the OC on that debt?

There is clearly somthing in your CR that FICO is looking at as a major derog.

Have you ordered your three free, annnual crdit reports from each CRA, using annualcreditreport.com, within the last 12-months?

Those are the best credit reports that any consumer can obtain.  There is something in your CRs stalling you.

[Anonymous]

Inquiries had an impact on my TU

and EX scores.  When I went from 3 to 2 score went

up and when I went from 2 to1 and then to 0 I saw a change.

Did seem it did not impact EQ.

[cascade159]

I am a ScoreWatch subscriber to follow my EQ FICO score. I also have individual monitoring from TU and EX that allow me to pull a daily report - I ignore the scores as they are not FICO. My original post here in regarding EQ only.

The collection I mentioned wasn't just paid - it was DELETED from my credit report. I now have ZERO collections. The credit cards all have low limits (between 300-500) so maybe that is an issue. At this time I have only ONE NEGATIVE account on my credit report. It's a 15-year installment loan that was opened 19 years ago and is my oldest account. This account was paid in full four years ago but is reporting multiple 30-day lates. So, I assume that is the reason why I am stuck below 700.

My main question was about being stuck at 680... not losing a point on an inquiry... not gaining a single point on lowering my CC balance to 9%.... seems like there would be some movement given that activity.

[RobertEG]

At this time I have only ONE NEGATIVE account on my credit report. It's a 15-year installment loan that was opened 19 years ago and is my oldest account. This account was paid in full four years ago but is reporting multiple 30-day lates. So, I assume that is the reason why I am stuck below 700.

____________________________________________________--

Date an account was opened, closed, or paid has no bearing on the dop off of prior monthly derogs from your CR.

That is tied, under FCRA 605(a)(5), solely to 7 years from the date of occurance of the delinquency itself.

If the "derogs" in your CR for this account actually occured more than 7 years ago, they should not be in your CR.

With what you have said about your CR, I see no reason why you should not be above 700, providing you have % util of your current cards down to at least the 20% util level.

FICO does not score, and does not care about, your credit limits.  It scores % util of that CL.

I still think that there might be a submarine lurking in your credit file that you may not be aware of.  The best and most complete way for you to assess your current credit file is to get your free, complete CR from annualcreditreport.com for each CRA, and compare their postings.  Dont buy any scores on this site, just order your free credit reports, once a year.

[Anonymous]

I can remember being stuck at 698 on EQ.  I just could not

get that 2 pts for 700 club.  Seemed like forever.

Then when they did unstick me I joined the 800 club.